WEEK 1 Accounting as an information system in an organisation

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Last updated 4:41 PM on 4/8/26
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4 Terms

1
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What is accounting

Accounting can be defined as the art of identifying, collecting, recording, classifying, interpreting and communicating financial information of an entity for users’ decision making

2
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what is an information system

it is a structure system for collecting, storing, processing and disseminating data in order to support decision-making, control and visualisation in an organisation

3
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5 internal users of accounting information

  • staff union

  • employee

  • internal auditors

  • management

  • employers

4
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what is financial accounting

it is a branch of accounting that focuses on the preparation of financial statements for external users